DCP-6: Mask Network Token Swap

Header Content
Author Henrik Andersson
Created 2021-09-13
Status Planned

Motivation

A mutual token swap between dHEDGE and Mask Network will further cement the partnership allowing for more integrations and campaigns in the future. Mask Network is a leading protocol for social network’s (Twitter, Facebook) intersection with crypto. As social aspects of DeFi becomes more important this will be strategic important for dHEDGE.

Description

Swapping US$500k worth of DHT in exchange for US$500k MASK using 30 day average price and 1 year lockup for both parties.

Implementation

Once vote passes the swap will take place.

Vote

Vote passed

3 Likes

Taylor from Mask Team here, really appreciate the support! Hope we can upgrade our partnership from here!

4 Likes

For a more formal writeup

Conduct token swap with MaskDAO

Summary

MaskDAO proposes a token swap between $MASK and $DHT to further diversify both treasuries and solidify ecosystem cooperation and interaction between our communities.

Mask Network Introduction

Mask Network creates a decentralized application ecosystem that bridges the gap between Web 2.0 and Web 3.0 for users, helping them make a seamless transition. It provides the main function of encrypting and decrypting information transmission and evolves around this function, integrating de-private social, borderless payment network, decentralized file storage and sharing, decentralized finance, and governance (DAO) to help users protect their privacy, data, assets and rights on traditional social networks such as Twitter, Facebook, etc.

Mask & dHEDGE

Recently, Mask Network has started the SocialFi Alliance with dHedge and other noteworthy DeFi apps like Sushi, Pooltogether, Augur etc, along with a few ecosystem partners, and community & media partners. In the future, we will launch more social DeFi projects for social network users, promote the connection between Web2.0 and Web3.0, guide more top Internet social platform users to access DeFi, and for the long term, promote the large-scale application of Web3.0.

Our plug-in has already integrated dHedge. With our decentralized applet infrastructure, dhedge is directly rendered on top of Twitter. We will continue to develop the ecosystem and explore new possibilities for social decentralized finance with dHedge in the future.

Mask Token

$MASK is the native token of MaskDAO. The DAO is the owner of the Mask Ecosystem. $MASK holders are members of MaskDAO and possess ownership of the Mask Ecosystem through the DAO. As the native token, $MASK serves as incentives to facilitate governance. Each $MASK represents one vote. Overtime, Mask Network team and ecosystem members will develop more products and services that would accrue value to $MASK.

Motivation

We believe that the token swap enables us to:

  • Deepen bonds between our communities
  • Diversify our treasuries
  • Provide governance power in each other’s protocols

Specification

Execution at current 30-day moving average prices with no discount.

$MASK 30-Day MA = $

$DHT 30-Day MA = $

$ ____ notional value, paid in $DHT and $MASK.

$DHT <> $MASK

1 Like

Adding the forum post from our end